You may have been toying with the idea of buying or investing in a property but never really solidifying your idea into tangible action. This may be because you’re having second thoughts, especially since buying a property is such a big step, a life-changing decision that should not be taken lightly. However, if you already have this in mind, you are already on the right track.
The Future is Now
If you want or foresee a future where you are a proud owner of one real estate property or more, keep in mind that that dream is only possible if you work on it now. Therefore, the right time to buy or invest in a property is now.
A majority of millennials and Gen Zs are investing in real estate—and for good reasons. A condo unit is not only a great bachelor or bachelorette pad, but it is also a good investment for millennials. In addition, if you decide to start a family in a larger home, you can turn your unit into a rental pad to supplement your income.
The Philippine economy has been described as one of the fastest growing in Asia. The Philippines is entering what is known as the “Golden Age of Infrastructure.” Massive bridges and other structures are being constructed. Foreign investors, particularly from the information technology industries, are showing a strong interest in the country.
Now is an excellent time to invest in real estate because the country is in the early stages of development. This means that most of your the are still within your budget. Once these are completed, the value of your investment will rise, along with the rest of the market. If you invest in real estate now, its value will only grow.
Real estate can generate income in four ways: property appreciation, rentals, property management, and ancillary income. If you are in your 20s or 30s, you have 30 to 40 years or more before retiring to profit from your condo unit. Temporary dips in the real estate market won’t hurt you much because you have years to make up for your losses.
Investing early is always a wise decision. So, if you’re willing to take the risk, now is the time to invest.
3 Key Points to Consider Before Investing
- Financial Stability
While there are plenty of opportunities to invest, it does not come without risks. Compared to stock markets, real estate is safer to invest in, especially if you invest in pre-selling condos. Still, investments should not break your bank. The best ones come from the surplus of your income, whether it’s from your business or employment.
A budget should be set aside for your investments. Keep in mind that you do not have to eat more than you can chew. You can invest in increments through installment buying.
- Strategic Location
Whether you are investing or buying a property for personal use or as a passive income stream, one of the things you must carefully consider is the property’s location. A prime location is ideally in the middle of the civilization, where all a person’s immediate needs, such as hospitals, gyms, bistros, markets, malls, grocery, retail stores, and shops, are.
A well-located condo will encourage anyone to develop a habit of walking around and exploring the city. It attracts tenants willing to pay a premium price for the convenience of living near their workplace, public transportation hubs, schools, and lifestyle shops.
It is best to invest in a high-quality property in a prime area like Makati, a central business district.
- Facilities and Amenities
First-time property investors should check if it offers a wide variety of in-house facilities and amenities that will make anyone live comfortably.
A self-contained community that caters to the millennial lifestyle, such as jogging paths, yoga areas, Wi-Fi zones, security services, retail outlets, restaurants, study halls, lap pool, and other amenities that match luxury real estate trends can attract millennials, who are currently forming the majority of the workforce.
A Good Harvest
There are seasons for everything—a season for sowing and a season for reaping. If you invest now, you will gain confidence in having your own property, and it may even become more than just a place to call home. You may begin to consider investing in real estate as a side hustle or as a primary source of income, and the seeds you sow today will reap rewards tomorrow.
Investing in real estate may appear intimidating, but given the genuine benefits, take the quarantine time to consider it further.